Atria Investments Inc Takes Position in Carpenter Technology Corporation $CRS

Atria Investments Inc acquired a new position in Carpenter Technology Corporation (NYSE:CRS) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 877 shares of the basic materials company’s stock, valued at approximately $242,000.

Several other large investors have also recently bought and sold shares of the company. Egerton Capital UK LLP bought a new position in Carpenter Technology in the 1st quarter valued at $329,727,000. Invesco Ltd. boosted its holdings in Carpenter Technology by 37.1% in the first quarter. Invesco Ltd. now owns 2,107,676 shares of the basic materials company’s stock valued at $381,869,000 after acquiring an additional 570,441 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in Carpenter Technology in the second quarter worth about $134,790,000. Nuveen LLC acquired a new stake in Carpenter Technology in the first quarter worth about $63,136,000. Finally, Driehaus Capital Management LLC raised its holdings in Carpenter Technology by 79.2% during the 1st quarter. Driehaus Capital Management LLC now owns 572,946 shares of the basic materials company’s stock worth $103,806,000 after purchasing an additional 253,163 shares during the last quarter. Institutional investors and hedge funds own 92.03% of the company’s stock.

Insider Activity

In other Carpenter Technology news, Director I Martin Inglis sold 5,691 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.54, for a total transaction of $1,391,677.14. Following the sale, the director directly owned 6,732 shares in the company, valued at approximately $1,646,243.28. This trade represents a 45.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Tony R. Thene sold 19,000 shares of the company’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $244.99, for a total transaction of $4,654,810.00. Following the completion of the transaction, the chief executive officer owned 535,019 shares of the company’s stock, valued at $131,074,304.81. This trade represents a 3.43% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 28,124 shares of company stock worth $6,890,250 in the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Carpenter Technology Stock Down 2.2%

Shares of NYSE:CRS opened at $324.69 on Friday. The company has a 50 day moving average price of $267.98 and a two-hundred day moving average price of $255.40. The company has a market capitalization of $16.18 billion, a PE ratio of 39.69, a PEG ratio of 1.41 and a beta of 1.47. Carpenter Technology Corporation has a 52 week low of $138.61 and a 52 week high of $342.11. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.37 and a current ratio of 4.44.

Carpenter Technology (NYSE:CRS) last announced its quarterly earnings results on Thursday, October 23rd. The basic materials company reported $2.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.30. The company had revenue of $733.70 million during the quarter, compared to analyst estimates of $741.18 million. Carpenter Technology had a net margin of 14.30% and a return on equity of 22.68%. The firm’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.73 EPS. Analysts forecast that Carpenter Technology Corporation will post 6.83 earnings per share for the current year.

Carpenter Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Tuesday, October 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, October 21st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.2%. Carpenter Technology’s dividend payout ratio (DPR) is currently 9.78%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CRS shares. Jones Trading initiated coverage on shares of Carpenter Technology in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $400.00 target price on the stock. Deutsche Bank Aktiengesellschaft set a $425.00 price objective on shares of Carpenter Technology and gave the company a “buy” rating in a report on Friday, October 24th. Zacks Research lowered shares of Carpenter Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 1st. KeyCorp upgraded shares of Carpenter Technology from a “sector weight” rating to an “overweight” rating and set a $380.00 target price for the company in a research report on Thursday. Finally, Cowen restated a “buy” rating on shares of Carpenter Technology in a research report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $371.14.

Carpenter Technology Company Profile

Carpenter Technology Corporation engages in the manufacture, fabrication, and distribution of specialty metals in the United States, Europe, the Asia Pacific, Mexico, Canada, and internationally. It operates in two segments, Specialty Alloys Operations and Performance Engineered Products. The company offers specialty alloys, including titanium alloys, powder metals, stainless steels, alloy steels, and tool steels, as well as additives, and metal powders and parts.